Wednesday, June 11, 2008

Board members being hit up for donations, survey says

More than half of nonprofits require financial contributions from board members, a trend expected to become increasingly more commonplace, according to a study released earlier this year by Grant Thornton LLP, an accounting, tax and business advisory company.
Results of the fifth annual National Board Governance Survey for Not-for-Profit Organizations show that 54 percent of nonprofit organizations that have an annual budget of less than $20 million expect board members to contribute $1,000 or less annually, 20 percent expect a contribution of $1,001 to $2,500, 12 percent a contribution of $2,501 to $5,000, and 14 percent a contribution of $5,001 or more.
The study concludes that more organizations use a "give or get" policy for board members, in which they're asked to contribute personally and/or solicit contributions from their friends and contacts in order to remain on the board.

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